Satia Industries had filed an application seeking environmental clearance under the provisions of the EIA Notification, 2006 for its proposed expansion of paper production from 300 TPD to 600 TPD along with CPP of 14 MW located at Village Rupana, District Muktsar, Punjab.
After detailed deliberations in the 13th meeting of the Expert Appraisal Committee (EAC) for Industry-1 Sector constituted as per the provisions of the EIA Notification, 2006 for Environmental Appraisal, the Committee recommended the project for grant of Environmental Clearance under the provisions of EIA Notification, 2006 subject to certain specific conditions in addition to the applicable general conditions as per the Ministry's Office Memorandum No. 22-34/2018-III dated 9/8/2018 for pulp and paper industry.
Commenting on the EAC approval, Shri R.K Bhandari, Joint Managing Director said, "With great enthusiasm we share the news that while on one hand, the EAC has recommended our case for Environmental Clearance for capacity expansion and on the other hand we have successfully done the financial closure of the Project. With this, we are now fully confident of moving ahead at full pace and have plans to complete the civil work, plant erection and commissioning and trial run before the end of the financial year 2021. With a state of art new European Paper machine and planned use of wood pulp as our raw material for this machine - will ensure higher quality produce equivalent to A grade mills and will definitely command better price realization."
Shares of Satia Industries Ltd was last trading in BSE at Rs.96.5 as compared to the previous close of Rs. 95.15. The total number of shares traded during the day was 12437 in over 1292 trades.
The stock hit an intraday high of Rs. 101.7 and intraday low of 94.45. The net turnover during the day was Rs. 1194998.